TEA Group Captive Health Insurance Plan | The ESOP Association

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Insurance Program

TEA Group Captive Health Insurance Plan

The ESOP Association’s Group Captive Health Insurance Plan—a benefit available only to corporate and professional members—offers a unique opportunity to provide high-quality health care and pharmacy benefits at reduced rates.

Learn More in These Free Webinars

Learn More in These Free Webinars

Get detailed information about how TEA's Group Captive Health Insurance Plan works and how it can benefit your ESOP company, or your firm offering professional services to ESOP companies. Ask questions in real time and get immediate answers. Our next one-hour live webinar takes place on the following date:

If this date does not fit your schedule, see our recorded webinars—which include great questions from the audience and answers from our presenters. To sign up for these recordings, scroll down.

Recorded Webinar: Self Funding Health Care

TEA Webinar on Self Funding Health Care

In Part I of our two-part series, learn about the advantages of self funded health plans—which are favored by most large companies but can be harder for smaller companies to participate in, due to risk concerns.

Recorded Webinar: TEA's Group Captive Health Insurance Plan

TEA Group Captive Health Insurance webinar

In Part II of our two-part series, learn how you can gain most of the advantages of self funding—but with reduced risk—by participating in The ESOP Association's Group Captive Health Insurance Plan.

Video & Sub Text

This plan makes it possible to support employees’ physical and financial health at the same time. These goals are important to any well-run business and are vital for ESOP companies, which are bound to operate in the best interests of their shareholders—the employee owners. This insurance plan does that, ensuring quality care—often by allowing companies to retain their existing health care provider—at significantly lower rates. That translates to good health for employees and a healthy bottom line for your ESOP.

Who is Eligible?

 

Corporate Members

All of our corporate members with 5+ employees are eligible.

 

Professional Member Companies

Professional member companies with at least 5 ESOP Association members in good standing, or at least 50% of their professional employees as ESOP Association Members are eligible.

Already Have an Insurance Broker?

No problem! We can work with you and your current broker. For more information please reach out to TEACaptive@fredcchurch.com.

How Does it Work?

How Does TEA Group Health Insurance Work

By joining a pool of ESOP Association members, you gain expanded purchasing power that offers the following benefits:

  • Significantly lower fixed costs compared to fully insured or self-insured plans.
  • Savings on variable plan costs that average 85%, compared to 0% for fully insured plans.
  • Greater plan design flexibility, giving you more options to create a plan that meets your employee owners’ needs.
  • More transparency on health costs and drivers, and suggestions that can help your company gain greater control of long-term health care expenses.
  • Reduced risks distributed over a pool of people that is larger than one smaller company can provide. 

Which Companies Stand to Benefit Most?

Every company may benefit from participating. Larger, self-funded organizations can gain greater cost containment and plan management flexibility. Smaller companies—those with 5-1,000 employees—typically have even more to gain because they are able to reap most of the benefits of being self-funded while reducing the potential costs for catastrophic health events.

Benefits are tailored to companies in two categories, based on company size. For a more detailed explanation of these benefits, download this document.

 

*Exceptions: Local regulations stipulate that employers in Pennsylvania, Utah, and Washington, DC must have at least 51 employees to join this program; in New York, employers must have at least 100 employees.
BenefitsCompanies with 5 - 20 EmployeesCompanies with 20+ Employees
Underwriting in Minutes 
Standard ERISA Plan Document
Savings Up to 85 Cents on the Dollar
Claim Transparency
Monthly Claims Reporting Available
Access to Multiple Plans
Cost Containment Vendor Flexibility
Access to Multiple Networks 
Plan Customization 

 

Insurance Triple